The international business world is intelligent enough to know that DEFINED BENEFITS are financial disasters to any business, thus all businesses focus on the known, i.e., defined CONTRIBUTIONS alone. When public sector contracts are negotiated by public sector employees, with no real taxpayer representation, that hammer out a contract with defined benefits that forces under duress a third party, the taxpayers, to cough up the necessary dough, then it’s truly a case of the inmates running the Asylum as well-connected public sector unions overpower the poorly represented taxpayers. Any challenges to that “racket” would be heard before judges who have pension and benefit package they want to protect. Again, seems like a racketeering cover-up right before our public eyes.

Legally, we may be obligated to pay those DEFINED benefit pension plans, but their unsustainability is creating “pension envy” from the private sector, killing the budget and discouraging new job creation as the entrepreneurs’ taxes and fees are contributing to paying for those defined entitlements that are not available in the private sector.

Stealing from the young who silently shoulder the costs and bear the burden of unfunded promises of these programs to enrich the old seems to describe the Governments expansion of entitlement benefits and other government services, along with the taxes young people will have to pay to support them, mostly to subsidize older Americans.